DTI to crack down on profiteers, hoarders amid Covid-19

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Photo from: DTI Facebook page

By: Philippine News Agency

Department of Trade and Industry (DTI) Secretary Ramon Lopez said on Thursday the government will implement stricter measures against profiteers and hoarders amid the coronavirus disease 2019 (Covid-19) outbreak.

In a text message to reporters, Lopez said DTI has proposed to President Rodrigo Duterte to issue an executive order (EO) to go after those who put unfairly large profit on products which are in demand during this situation and those who hoard goods whether for own consumption or re-selling them for higher prices.

He said Duterte has agreed with DTI’s proposal and the EO is expected to be out “as soon as possible”.

Lopez said the EO will include measures against online sellers that are overpricing personal hygiene products.

“Online selling of masks and/or medical devices including alcohol, sanitizers, and the like will be strictly monitored and profiteering and hoarding will be dealt with,” he said.

He added that the EO will arm DTI with “visitorial powers” together with the Philippine National Police (PNP) and National Bureau Investigation (NBI) to prevent hoarding and profiteering.

 

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